Pfizer $PFE ends development of obesity drug due to side effects. 🔴
You may remember my recent post that talked about the positive test results of Pfizer's obesity drug.
Today our stock dropped over 4% right after the market opened on the news that the development of this drug was being abruptly terminated.
Pfizer said it will instead focus on its other oral obesity drug, danuglipron, which is in a phase two clinical trial. It expects to complete plans for a phase three clinical trial program for danuglipron by the end of 2023.
Pfizer is developing treatments aimed at reducing weight in patients with diabetes and obesity as it seeks to target a market estimated to reach $100 billion by the end of the decade.
I don't invest much in pharma companies - I don't like the ambiguity around it... I prefer to pick oil or other mining companies.
I don't invest much in pharma companies - I don't like the ambiguity around it... I prefer to pick oil or other mining companies.
This is the disadvantage of pharma companies, you never know how it will turn out with a given drug even if it goes through phase 1,2,3 and I don't know how many more 😄 But again, if it's a company like Pfizer and others, it doesn't have such an impact as if it's a smaller company that stands and relies only on the drug, then there can be drops even in tens of percent.
The pharma thing is also a great field but at the same time the fact that not all drugs work out makes it risky, but I trust Pfizer to get something through to the final soon :)